ICT, travel and tourism, transport, insurance and finance, cosmetics, wine, automobiles, electronics, gas turbines, machinery and textiles are major industries of France. In 2017, Agriculture industry contributed 1.7% to GDP of France. Manufacturing had a share of 19.5% while services industry had a share of 78.8% of GDP in 2017.
In 2018, Services industry exports was valued at USD 294 billion for France. Electronics export accounted for USD 42.9 billion, machinery for USD 88.9 billion, vehicles for USD 112 billion, chemicals for USD 116 billion, metals for USD 38.2 billion, minerals for USD 20.5 billion, stone for USD 14.5 billion, textiles for USD 27.3 billion and agriculture for USD 92.6 billion in 2018.
France is the largest country in the EU, stretching from the North Sea to the Mediterranean. The landscape is diverse, with mountains in the east and south, including the Alpine peak of Mont Blanc (4810 m) which is Western Europe's highest point. Lowland France consists of four river basins, the Seine in the north, the Loire and the Garonne flowing westwards and the Rhône, which flows from Lake Geneva to the Mediterranean Sea.
France had estimated population of 65.319 million in the year 2020 which is expected to be 66.523 million by 2024, growing at a CAGR of 0.45%.
France’s real gross domestic product (GDP) was Euro 2315.37 billion in 2019 and due to COVID-19 outbreak it is estimated to shrink by 12.5% to be around Euro 2025.95 billion in 2020.
France’s unemployment rate was 8.45% of total labor force in 2019. Due to slowdown in global economic activity due to COVID-19 pandemic the unemployment is expected to increase by 18.73% and reach 10.398% in 2020. Unemployment is further estimated to decrease in 2021 by 0.01% and reach 10.397% of total labor force in France.
France's per capita GDP was estimated at USD 42,472.71 in 2019 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 46,978.40.
The output gap for France in 2019 was positive at 0.113% of the potential GDP.
In 2019, France government’s revenue was estimated at Euro 1266.54 billion whereas the expenditure was estimated at Euro 1346.08 billion. This is expected to result in France government’s net lending / borrowing negative at Euro 79.537 billion in 2019 indicating that not enough financial resources were made available by the government to boost economic growth.
The current account balance for France has remained negative since 2014. It was estimated at USD -10.218 billion for the year 2019 and is expected to decrease at a CAGR of 20% and reach USD -25.433 billion by 2024. This negative current account balance indicates that France will remain net borrower from rest of the world till 2024.
In World Bank’s ease of doing business ranking France was ranked 32 out of 190 countries in 2019. France’s ease of doing business ranking remained unchanged from 32nd position in 2018.
*If Applicable.